Thread regarding Truist Bank layoffs

Early Retirement Package

What are the chances Truist will offer another round of early retirement packages to all teammates? Would be an easy way to quickly reduce headcount since many who have been here for a long time are ready to leave.

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| 16106 views | | 16 replies (last August 2, 2024) | Reply
Post ID: @OP+1tNWvvxd

16 replies (most recent on top)

“Angry and childish boss”.
Says the person that is complaining about how unfair RTO is because they don’t get the benefit.

You are the reason this is happening. You would be fine with it if you benefited. But since you personally are not, make sure no one else can.

All of the issues with corporate America, and this is your take. “It’s unfair because I don’t benefit”. Infantile.

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Post ID: @1guo+1tNWvvxd

Like I said. Grow up. One would think you would have realized that the world doesn’t revolve around you.

“It’s not fair!” Childish take. You sound like a teenage girl.

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Post ID: @1zcf+1tNWvvxd

VSRP truly was a hBBT thing. Unlike SunTrust BB&T actually had a compassion for its employees. Now that SunTrust has taken over there is no way that would happen. The execs and board are driving this company into the ground for their own personal gain. Kelly got taken and we got the shaft. Look at the way they are buying back stock, slashing staffing, not investing in our business. All of this is to their benefit and there’s not a thing we can do about it. Billy the snake is playing the game dealing from the bottom of the deck.

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Post ID: @1umj+1tNWvvxd

@wxe+1tNWvvxd If you a=do WFH, you still have to put your children in Daycare, so that cost shouldn't be applicable.

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Post ID: @1hlz+1tNWvvxd

I was VSRP qualified when they offered it. I didn't take it. "How bad can it be?" I thought. If I had only known just how bad it would get, I would have accepted and never looked back. I'm hanging it up this year. I fared better from the strictly financial perspective, but it sure came at a price. This place is much worse than I could have, or did, imagine.

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Post ID: @lbd+1tNWvvxd

The big one done in 2022 was called VSRP. I was part of it. Folks over 55 working for either bank were eligible. I am so glad that I took it. I don't think they will do it again. I am sorry for the folks left.

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Post ID: @mot+1tNWvvxd

@era+1tNWvvxd. So am I to assume that as a manager at Truist, you find it acceptable to require teammate A to RTO 4 days, who drives an hour one way, plus gas, plus childcare cost, wear & tear on vehicle etc, while teammate B, who live close to teammate A is able to WFH? I wish I
had YOUR name so I don't accidently apply to work on your team. ANYONE who is OK with that scenario is not someone I would want to work for.

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Post ID: @wxe+1tNWvvxd

Don’t worry, I’m only applying externally so won’t be joining your team. I’d hate to have to work for such an angry and childish boss!

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Post ID: @mkf+1tNWvvxd

“Enforce RTO only for a select few”

Grow up. You need to get pass the fact you aren’t getting what you want all the time. You are the reason why RTO is happening. Because if you don’t get what you want, no one should get anything beneficial. I wish I knew your name so I would ensure you never got hired on any team that reported to me.

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Post ID: @era+1tNWvvxd

I don’t see it happening. I might be wrong, but I thought the VRS was an hBBT thing. Funny thing is, some that were paid to leave early were later hired back, LOL!

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Post ID: @kfv+1tNWvvxd

I think there will be a mass exodus if the pension gets pulled. Also, if they actually enforce RTO for ALL teammates (instead of a select few) that will modivate those WFH teammates to seek other remote opportunities. Time will tell.

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Post ID: @zyl+1tNWvvxd

We’ve gone from 60000 FTEs to 38000 in less than 5 years. If you think they will offer another package we’ll all have some on what you’re smoking.

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Post ID: @jmg+1tNWvvxd

Essentially your choices will be between taking a temporary job at Accidenture or Cisco so you can train your offshore replacements or you can get nothing or take option 3 where possible to get some extended medical leave/paid FMLA time to drag things out as long as possible.

Current executive management is functionally equal to Russia government with Mckinsey, Accenture, Cisco, Infosys, et al. are their version of Wagner hired g-ns. Make no mistake it is a war to make their bonuses, stock options and percs while also keeping their power while maintaining enough of a slush fund to keep the FDIC auditors at bay.

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Post ID: @gmj+1tNWvvxd

"about what is going to happen on August 8" - that's not cryptic at all

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Post ID: @ovz+1tNWvvxd

If the information about what is going to happen on August 8 is actually true, people will probably leave on their own...

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Post ID: @bhn+1tNWvvxd

I don't think that's going to happen. They have found a much more cost effective way to get rid of people - make them miserable and offshore their jobs. No severance pay required. It's disgusting, but seemingly true.

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Post ID: @nbg+1tNWvvxd

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